Bridger Management LLC Takes $6.55 Million Position in Masimo Corporation $MASI

Key Points

• Bridger Management LLC invested $6.55 million in Masimo Corporation, acquiring approximately 39,300 shares, which now makes up about 3.3% of its holdings.
• Masimo reported earnings of $1.33 per share in its latest quarter, exceeding analyst expectations, and its revenue also increased by 7.7% year-over-year.
• Analysts have mixed ratings on Masimo, with Piper Sandler raising their price target to $210, while others like Wall Street Zen lowered it from "buy" to "hold."

Bridger Management LLC purchased a new position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 39,300 shares of the medical equipment provider's stock, valued at approximately $6,547,000. Masimo accounts for about 3.3% of Bridger Management LLC's portfolio, making the stock its 14th biggest holding. Bridger Management LLC owned about 0.07% of Masimo as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of MASI. Massachusetts Financial Services Co. MA grew its stake in Masimo by 13.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider's stock worth $327,842,000 after buying an additional 232,671 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Masimo by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,673,252 shares of the medical equipment provider's stock worth $278,764,000 after buying an additional 10,876 shares in the last quarter. Durable Capital Partners LP acquired a new stake in Masimo during the first quarter worth about $187,528,000. Alyeska Investment Group L.P. grew its stake in Masimo by 24.9% during the first quarter. Alyeska Investment Group L.P. now owns 722,534 shares of the medical equipment provider's stock worth $120,374,000 after buying an additional 143,899 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Masimo by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 703,378 shares of the medical equipment provider's stock worth $117,172,000 after buying an additional 55,658 shares in the last quarter. 85.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MASI has been the topic of a number of research analyst reports. Piper Sandler raised their price target on shares of Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Zacks Research upgraded shares of Masimo from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Finally, BTIG Research restated a "buy" rating on shares of Masimo in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $193.60.

Masimo Trading Up 0.3%

Shares of MASI traded up $0.44 during trading hours on Monday, hitting $147.63. 224,757 shares of the stock were exchanged, compared to its average volume of 631,603. Masimo Corporation has a fifty-two week low of $107.98 and a fifty-two week high of $194.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61. The business has a 50-day moving average of $154.41 and a 200-day moving average of $160.14. The firm has a market capitalization of $8.02 billion, a P/E ratio of -17.33 and a beta of 1.23.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.11. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The company had revenue of $370.90 million during the quarter, compared to analysts' expectations of $368.65 million. During the same period in the prior year, the company posted $0.86 earnings per share. Masimo's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts expect that Masimo Corporation will post 4.1 EPS for the current year.

Insider Buying and Selling at Masimo

In other news, Director William R. Jellison acquired 3,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was bought at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the transaction, the director directly owned 4,790 shares in the company, valued at $699,244.20. This represents a 167.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.90% of the stock is currently owned by company insiders.

Masimo Profile

Masimo Corporation develops, manufactures, and markets various patient monitoring technologies, and automation and connectivity solutions worldwide. The company offers masimo signal extraction technology (SET) pulse oximetry with measure-through motion and low perfusion pulse oximetry monitoring to address the primary limitations of conventional pulse oximetry; Masimo rainbow SET platform, including rainbow SET Pulse CO-Oximetry products that allows noninvasive monitoring of carboxyhemoglobin, methemoglobin, hemoglobin concentration, fractional arterial oxygen saturation, oxygen content, pleth variability index, rainbow pleth variability index, respiration rate from the pleth, and oxygen reserve index, as well as acoustic respiration monitoring, SedLine brain function monitoring, NomoLine capnography and gas monitoring, and regional oximetry.